GPU Mining Will Not Go Obselete Any Time Soon

The bear market is over and the new rising cycle from bear to bull markets is brewing. Why do we claim the bear market has been over? Because the market first changed the trend of the bear market with continuous increase in volume, which has completely got rid of the declining inertia of bear market. Secondly, under the expectation of bitcoin halving, the users continue to be optimistic with very high mood and full confidence in the future. Thirdly, the network hashrate of bitcoin has broken new record high and re-entered a new rising cycle and the situation of Ethereum has also started to reverse.

A new round of entry opportunity has appeared

Under the expectation of bitcoin halving and new technological changes, some new fundamental benefits within the whole cryptocurrency are brewing.

Firstly, bitcoin is facing halving and the lightning network is more and more mature.

Moreover, the Ethereum 2.0 has constantly made great progress(See more: Brief Introduction of Ethereum 2.0). The improvement of all these technologies will form a new outbreak within a certain period to support a new round of rise.

Thirdly, in terms of the mining workers, one factor to determine their benefits is the potential of coin price rise, while the other factor is the cost of mining.

During the flood season nowadays, the very low electricity bill has already become a good advantage. At present, compared with the reasonable price of miners as well as a relatively low electricity cost, even without considering the market factor, the cost of mining is rather low, so it’s a golden opportunity to enter the market now.

For example, during the period of low miner price, Antminer S9 cost only 99USD and PandaMiner was only 199USD, but many people had still missed the good opportunity. If we enter the market now, we will face a clearer opportunity. The value of miners has returned although it’s still underestimated.

Because the situation we can see has been very clear, the miner price now is suitable for investment and a new round of investment opportunities for mining has already emerged.

Bitcoin is approaching halving. Bitcoin will be halved in May 2020 while Litecoin halved in August 2019. The mining workers have rushed to mine more coins before halving.

For the Ethereum mining workers, it is rather embarrassing and entangled because they always worry the miners in their hands cannot be used for mining any longer, so their enthusiasm has been greatly reduced.

Let’s have a look at the development roadmap of Ethereum first and it will take nearly one to two years to completely transfer from POW to POS. At the yearend or beginning of next year, it will become a POW+POS hybrid chain. Of course, the full transition to POS will take some time.

Within the period, it’s a very good bonus period for mining. In fact, we can compare to the last round. Before the year 2017, it was the incubation period of Ethereum mining. Similarly, it’s also the good opportunity for mining before the next round of market. We often talk about halving production of bitcoin. With a round of bull market, the coin prices are also skyrocketing now.

According to the economic policy of Ethereum, it will also reduce its production supply and the situation will be more intense when compared with bitcoin and litecoin. The inflation rates of some major currencies: 3.7% for bitcoin, 4.3% for Ethereum, 8.47% for litecoin. The annual inflation after halving: 1.8% for bitcoin, 4.1% for litecoin and the annual inflation rate after Ethereum transition to POS will be less than 1%.

For such a coin with strong consensus mechanism, the user wallets and addresses have been increasing with fast growth of community influence, it’s not inferior to the bitcoin. Despite the substantial halving, we still have reasons to believe that Ethereum has a higher growth expectation and technological supporting base than other cryptocurrencies.

They will be divided into two parts. For the first part, after the whole POS network has been mature, about 1/3 of the Ethers will be used for mortgages, of course, they’re not completely locked, so the market liquidity will be reduced.

For the second part, during the process from POW to POS, since it’s a completely different two chains in the initial stage, in the whole process the coins on the POW chain will be continuously transferred to the POS chain. The coins in the network will be frozen for a long time and they cannot circulate until all the Ethers have been transferred. So, from the beginning of transition to the POS, the Ethers will enter a new deflation cycle.

Under the GAS mechanism of Ethereum 2.0, some Ethers used as commission are burned, which will also aggravate the existing halving of Ethereum.

After Ethereum completed the transition to POS, apart from the supply cut due to economic policy, Ethereum 2.0 means that the performance will be 1,000 times higher than the current one, which will be a major benefit as well as a strong support.

Summary

At present, there is still the opportunity for Ethereum mining. In addition to the potential mining bonus period, there is also income obtained as mortuary node after the transition to POS.

In addition to Ethereum, GPU miner has also resulted in the mining of many new small currencies. We will get corresponding mining income at early stage before the appearance of ASIC miners till the next POW public chain star appears.

About EastShore

EastShore is an experienced supplier dedicated to providing the best cryptocurrency-making machines and devices and top-notch customer service. With our PROFESSIONALISM, SINCERITY, and EFFORTS, we have gained trust and support from worldwide customers.

Working hours

Purchase without hesitation, here is THE place to start mining and making money!